Pakistani cement units penalised

Pakistani cement units penalised
Published: 10 January 2006

The Monopoly Control Authority has imposed penalty of Rs 100,000, and Rs 10,000 per day, from the middle of November 2005, against 18 cement factories for non-compliance of its orders to reduce the ex-factory cement prices, by Rs 12 to Rs 60 per bag.  The MCA Chairman, Bilal Ahmad, told Business Recorder that after hearing the representatives of the cement factories and examining the cement prices for several months under the law, the Authority had passed orders on October 27 to 29, and November 1, 2005 and directed the 18 undertakings to (a) break the cartel and reduce ex-factory price by Rs 12 to 60 per bag immediately; (b) desist from such restrictive trade practices and cartel-like behaviour in future; and (c) report compliance to the Authority within a week.